Data Analytics: To hire, or not to hire, that is the question?
The need for business leaders to drive innovation can be for multiple reasons. For some companies, antiquated processes and systems cause them to be less efficient or competitive in the marketplace. For other businesses, a change in the market has caused their services to no longer be relevant to their overall customer base. Yet for other organizations they are growing beyond what they can handle, and the same old techniques and applications cannot scale with the demand for their goods or services.
Before tackling these changes, business leaders strive to use analytics to make insightful, targeted business decisions to grow and scale their organizations, deciding the best way to go about it can be a challenging task. Perhaps you are embarking on this endeavor and are asking yourself, does it make sense to retain an analytics consulting firm, reallocate my employees, or hire a new internal data and analytics team? This is a question posed by many business leaders as they work to enhance their companies for success.
As you ponder the answer to this question consider a few items:
Have you identified the gaps holding back your business?
Will your current staff be able to accomplish all the data analytics deliverables within your timeline?
Does your internal staff have the skills to implement the data analytics required to improve your business?
After you complete the analytics project do you have enough work for all the employees you just hired?
If you answered no to any of the questions above, it might be time to consider the benefits of hiring a data analytics consulting firm.
Reasons to consider a consulting partner:
Instant expertise: Instead of spending time assembling a team or training your current team with the skill sets you believe will solve the problem, why not rely on a consulting partner with a record of accomplishment for solving the problems you have identified that are holding back your business.
Rapid development: By hiring an experienced team you shorten the timeline for implementing a solution to gain insights from your data.
Can’t see the forest for the trees: A consultant can help identify problems where employees might be too close to the situation to see the big picture.
Supplement Staff: Sure, you have a talented team already, but they don’t have the time to implement a new project like building a data lake or identify the best type of analytics to improve company performance.
Objective View: A good consultant has no vested interest in a particular viewpoint except what is in the best interest of their client.
Dirty work done without the hassle: Consultants can do the dirty work that you or your employees don’t want to do. Do you really want to rebuild those spreadsheets again?
Learn from an expert: Consultants spend countless hours working with different clients to solve many diverse types of data and business problems. Use them to jumpstart a project, setup a particular analytic model or put processes in place for long term data and analytic maintenance.
Influence your boss or other members of the team: Sure, you have the right answer, the right approach, and maybe even the team to get the job done. However, your boss isn’t convinced. Perhaps it is time to bring in the “experts from out of town” to help persuade your teams stakeholders that yes this is the right approach for the company.
Flexibility: Consultants aren’t on your payroll, they don’t receive benefits, you don’t pay taxes for them, and when the project is completed, they are done.
As you strive to harness insights from your data to scale your business it is important to define what you are endeavoring to achieve and determining if you have the staff and resources to make that possible. Scalesology is here to help. We welcome a no obligation conversation with you to help determine what is the best path forward to jumpstart your business analytics. Our clients receive a customized approach to ensure we scale their business with the right technology and innovative approach to maximize a return on their investment. Contact us today and let’s customize a plan for your business.